VIETNAM ACCOMMODATION SERVICE
Over the last decade, tourism has become more and more affordable to people. In terms of regions, Europe is the largest tourist market, welcoming 619.7 million international arrivals by 2016, accounting for more than half of the market share (50.2%). According to UNWTO, in 2017, the number of international tourists increased by 7% (the highest increase in the last 7 years), estimated at 1.3 billion people. In 2018, UNWTO forecasts the number of international tourists will increase by about 4-5%. The global market size of hospitality industry continues to grow during the period 2014 – 2016 with a CAGR of 9.84% and about 495.17 billion in 2016.
In 2017, the accommodation industry grew by 2.5% and is forecast to grow by 3.7% in 2018. The number of hotel rooms and guest rooms in the world tends to grow continuously over the period 2014 to 2025f. At present, there are over 700,000 hotels and resorts scattering across the world.
In 2026, the growth rate of the tourism and travel industry will still be maintained well thanks to the positive outlook of the world economy. It is forecast to directly contribute about $ 3,469 billion to world GDP, generating 135.88 million direct jobs, the value of exports from international tourists is about $ 2,056 billion, capital investment in the industry is about 1,254.2 billion. The growth of tourism and travel industry will be the main driving force for the development of the world’s accommodation industry. Therefore, in the future, the accommodation industry is expected to have positive prospects.
Vietnam is one of the fastest growing travel destinations in Southeast Asia. The number of visitors to Vietnam in the first 9 months of is estimated over 11.6 million visitors, up 22.9% over the same period in 2017. China had the highest number of visitors to Vietnam with 3.81 million visitors, up 29.7% over the same period in 2017. Revenue from tourism and travel in the first 9 months of 2018 reached 451.2 trillion dong, up 20% over the same period last year.
Thanks to the development of the domestic tourism industry in the past years, the number of businesses providing accommodation services has also been growing steadily every year. In the period of 2010-2016, the number of businesses operating in the field of accommodation services achieved annual growth of 7.03%. Revenue from accommodation industry in 2016 reached 64,764 billion, up 12.17% compared to 2015, growth rate was slower than 2015. The tourism industry has developed in the past few years to help the number of accommodation establishments grow. By the end of 2017, the number of accommodation establishments nationwide reached 25.6 thousand establishments, an increase of 21.9% compared to 2016. In Q3/2018, Hanoi and Ho Chi Minh City were two major markets remaining stable compared to Q2/2017 in terms of supplying.
1 Business environment
|HAINS CARAVELLE HOTEL JOINT VENTURE COMPANY LTD
SILVER SHORES LTD
GRAND PLAZA HANOI HOTEL CO., LTD
NGU HANH SON BEACH JSC
LOTTE HOTEL VIETNAM (Ltd)
SG RIVERSIDE HOTEL CO.,LTD
MUONGTHANH GROUP, JSC
INDOCHINA CENTURY 21 RESORT COMPANY LIMITED
Figure 1: GDP growth rate by quarter, 2015 – Q3/2018
Figure 33: Number of visitors to Vietnam, 2011-9M/2018
Figure 91: Forecast of the world tourism and travel industry growth, 2017e, 2026f
Table 1: Some indicators of China tourism and travel industry, 2017e